Issue - meetings

To consider a report of the Deputy Chief Executive (and Section 151 Officer)

The Deputy Chief Executive (Section 151 Officer) is responsible for the preparation of the Council’s Statement of Accounts in accordance with proper practices as set out in the CIPFA/LASAAC Code of Practice on Local Authority Accounting in the United Kingdom (the Code).  In preparing the Statement of Accounts, the Deputy Chief Executive (Section 151 Officer) must select suitable accounting policies and then apply them consistently and make judgements and estimates that are reasonable and prudent.

Audit Committee is requested to:

(i)           Note the contents of the report.

(ii)          Approve the Council’s proposed Accounting Policies set out in appendix one to be adopted in preparing the Council’s 2023/24 Annual Statement of Accounts.

Officer contact; Jonathan Davies Tel: 0161 218 1025 or email: jonathan.davies@stockport.gov.uk

The Deputy Chief Executive (and Section 151 Officer) submitted a report (copies of which had been circulated) which advised Audit Committee that the Deputy Chief Executive (Section 151 Officer) is responsible for the preparation of the Council’s Statement of Accounts in accordance with proper practices as set out in the CIPFA/LASAAC Code of Practice on Local Authority Accounting in the United Kingdom (the Code). 

In preparing the Statement of Accounts, the Deputy Chief Executive (Section 151 Officer) must select suitable accounting policies and then apply them consistently and make judgements and estimates that are reasonable and prudent.

The following comments were made/issues raised:

·         The Committee was assured that the proposed changes were consistent with standard practice.

·         Members of the Committee asked how many people would look at the materiality figure to check if this was a material issue or not.

·         Clarity was requested on heritage assets, for example, and what details were explicitly expressed in the accounts.

RESOLVED – (1) That the report be noted.

(2) That the Council’s proposed Accounting Policies as set out in Appendix One be adopted in preparing the Council’s 2023/24 Annual Statement of Accounts.